Section 263 could be invoked if proper investigation not made

Brief of the Case

ITAT Mumbai has in the case of  M/s Shoreline Hotels Pvt. Ltd. v CIT held that CIT  was justified in invocation of Section 263 when AO has not made any inquiry with regard to the expenses claimed in respect of accommodation bill obtained by assessee that reduced profit of assessee by 100% instead of 15% considered by AO.

Facts of the Case

The brief facts of the case

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